The U.S. stock market careened through a manic Monday, going from a steep early loss to a solid gain as worries turned into hope that the war with Iran may not last that long.
Oil prices whipped from nearly $120 per barrel, their highest since 2022, back toward $90. The S&P 500 fell as much as 1.5 percent before flipping to a gain of 0.8 percent. The Dow Jones Industrial Average rose 239 points, and the Nasdaq composite climbed 1.4 percent.
They’re the latest hour-to-hour swings to pummel markets because of uncertainty about how high oil prices will go and how long they will stay there.
On Monday:
The S&P 500 rose 55.97 points, or 0.8 percent, to 6,795.99.
The Dow Jones Industrial Average rose 239.25 points, or 0.5 percent, to 47,740.80.
The Nasdaq composite rose 308.27 points, or 1.4 percent, to 22,695.95.
The Russell 2000 index of smaller companies rose 28.37 points, or 1.1 percent to 2,553.67.
For the year:
The S&P 500 is down 49.51 points, or 0.7 percent.
The Dow is down 322.49 points, or 0.7 percent.
The Nasdaq is down 546.04 points, or 2.3 percent.
The Russell 2000 is up 71.76 points, or 2.9 percent.
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